by Walter Metzen | Feb 12, 2021 | Michigan bankruptcy
One of the great advantages of discharging debt in bankruptcy over non-bankruptcy debt settlement or other such options is that a bankruptcy discharge is a non-taxable event under the U.S. Internal Revenue Service Code. What in the world does that mean? ...
by Walter Metzen | Oct 25, 2020 | filing bankruptcy in Michigan, Michigan bankruptcy, Michigan Bankruptcy Attorney
SMALL BUSINESS ADMINISTRATION Loans: DISCHARGEABLE IN BANKRUPTCY An SBA loan is as dischargeable in Chapter 7 or Chapter 13 bankruptcy as any other sort of unsecured debt—with a few caveats. First, it is worth discussing why a debt may or may not be...
by Walter Metzen | Oct 14, 2020 | Bankruptcy Attorney in Michigan, Chapter 13 Bankruptcy, Michigan bankruptcy
THE CONFIRMED CHAPTER 13 BANKRUPTCY PAYMENT PLAN: NOT ETCHED IN STONE The Chapter 13 bankruptcy process consists of 2 separate stages: (1) the “pre-Confirmation” stage; and (2) the “post-Confirmation” stage. When you initially file your Chapter 13...
by Walter Metzen | Oct 3, 2020 | Automatic Stay, Filing Bankruptcy in Michigan, Michigan bankruptcy
MICHIGAN CHAPTER 7 & CHAPTER 13 BANKRUPTCY: THE DISCHARGE INJUNCTION The discharge of debt received at the end of a successful Chapter 7 or Chapter 13 bankruptcy proceeding is one of the most powerful civil remedies available under US law. The...
by Walter Metzen | Sep 2, 2020 | Michigan bankruptcy
CONDOMINIUM FEES IN MICHIGAN BANKRUPTCY: CONDO ASSOCIATION FEES GENERALLY It is both a blessing and a curse that ownership of condominium home in Michigan comes with obligations to the condominium associations that come with them. On one hand,...
by Walter Metzen | May 10, 2020 | Chapter 7 Bankruptcy, Michigan bankruptcy, Reaffirmation agreements
If you are a homeowner, you most likely have a mortgage and sometimes even a second mortgage or what is called a home equity line of credit or home equity loan. Unlike credit card debt or medical bills which are unsecured debt, meaning there is no collateral that is...
